THE OLD ARMENIAN DIPHTHONGS (diachronic analysis) – 2023-2 Vardan Z. Petrosyan None of the eight Old Armenian diphthongs (comp. եա, էա, էի, էո, իա, իե, իէ, իո) is a direct representative of the common Indo-European diphthongal system. Though the comparative Indo-European Studies restores the diphthong *ei in the IE base language, the Armenian էի (Ɲi) does not reflect either this or any other IE diphthong.